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saudi arabia? could an abundance of shale oil in the u.s. actually bring about energy independence by the year 2020? we drill for the truth straight ahead. and how rich is rich? the president wants higher taxes for americans earning more than $250,000 a year. is that fair? or should that number actually be $1 million? and could this be the key to resolving the looming fiscal cliff? that and a lot more is still to come on the "closing bell." >>> if a budget is not agreed upon to avoid the fiscal cliff, the average middle class family will pay $2,000 more in taxes. >> that's right. crunch time is upon us. the markets and economy will be held hostage until lawmakers do reach a deal on the fiscal cliff, presumably between now and the end of the year. >> eamon javers is breaking down the plan. over to you. >> just before the break, you and bill were debating whether or not it's too early to start getting sweaty palms about in fiscal cliff problem in washington. as a guy covering capitol hill for almost 20 years, i can tell you it's never too early to panic about what washington might do
prime minister confirm the government's commitment to marine renewable energy especially in the southwest? >> i think this is clearly -- marine renewable energy is clearly an area where the southwest has a real natural advantage and it's one of the many areas of renewable energy which is reflected in our diverse approach to renewable energy generation in the future because we've got to wean ourselves off an overreliance on one kind of energy vention and spread our bets more fairly and sustainably in the future. >> valerie vaz? >> thank you, mr. speaker. not only is it obama day but adoption week. my 10-minute rule bill called for equalizing statutory rights for leave, pay and allowances for adoptive parents and parents to whose children are born to them and can be done by regulations. could the deputy prime minister ask a minister to meet with me? >> i would certainly make sure that the relevant minister meet withs with her and would like to pay tribute to her for living -- for a long-standing campaign to equal the rights of parents and i believe it should be the case and
renewable energy, especially in the south was? >> renewable energy is great and a with southwest has a natural advantage. it's one of the many areas renewable energy which are reflected in our diverse approach to renewable energy generation in the future because we got to win ourselves off and over lines of one kind of energy generation. >> [inaudible] called for equalizing statutory rights for allowances between adopted parents. this can be done by regulation. so could the deputy prime minister asked a minister or two to meet with me to eliminate this unfairness? >> i was certain make sure the relevant minister meets with a. i would like to pay tribute to her former and long-standing campaign to equalize the rights of parents of the top to children to parentally for instance, to equalize that with other parents. something i certainly believe should be the case and something we'll be looking at as they can and hope we can make an announcement on that very issue in a not-too-distant future. >> will be deputy prime minister agreed a chance for initiative to get the oecd act on an inter
and at least two more in the senate minority. what the party needs to do to 5-hour energy? 5-hour energy supports the avon foundation for women breast cancer crusade. so i can get the energized feeling i need and support a great cause? i'm sold. pink lemonade 5-hour energy? yeah and a portion of every sale goes to the avon foundation for women breast cancer crusade. i'm sold. new pink lemonade 5-hour energy. get the alert, energized feeling you need and support breast cancer research and access to care. >> another white house loss for the g.o.p. coupled with their failure once again to take back the senate. many in the party calling for change. what can republicans do to regroup for 2014 and beyond. jason, a wonderful time of the the season, called recrimination. (laughter) >> otherwise known to journalists as shooting the wounded, which is our specialty, so, what, how much trouble is the republican party in? >> they're in a lot of trouble, the coalition needs to expand. it's that simple. there are democrats, the trends in this country, the g.o.p. has to wake up to, and adjust accordin
and we should do better still ahead, after pouring billions of taxpayer dollars and failed green energy companies, obama wants to do it again. what to expect in th next four years from this administration when it comes to managing your money. gerri: today was the first day of gasoline rationing in new york city and long island all because of hurricane sandy. gas rationing. drivers can only fill up every other day were put into place to stop the panic buying and it is borderline anarchy that was going on. long lines that took effect. you see a lot of calves in the line as well. governor andrew cuomo says it could top $50 billion and it would make it that second costliest storm behind hurricane katrina seven years ago. president obama is scheduled to visit the new york area next thursday to see the recovery operation firsthand. the definition of insanity is doing the same thing over and over and over again. and expecting different results. so how does this apply to obama's next four years in office? the green companies backed by your taxpayer dollars? they just grow and grow. many of them
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gas leak. a spoix man for citizens energy reported no one called in smelling gas ahead of the explosion. that doesn't rule out a gas leak. no one smelled it at the time. explosion. a bomb has been ruled out and a possibility that a meth lab exploded. that possibility has been ruled out. that cause very much a mystery, jenna. jenna: any warning at all this was about to takes place? >> it happened in an instant. people were going about their business doing what you would do on a saturday night. at at once the explosion happened, turned the neighborhood into a fireball. shook homes as far as three miles away. left behind charred earth, splintered wood, broken glass. 200 people are out of their homes. 31 homes looks like they will be taken right down to the ground. two people killed by the force of this blast, it all happened without warning. it happened in an instant, jenna. jenna: so odd and scary. hopefully we get answers on this. mike, thank you. >> you got it. rick: when we come back a new concern for women who are pregnant who could develop the flu. how it could impac
? warming planet. that's global warming ( laughter ) whether we want his ieflt energies or not, he is going to bend america over and stick solar power where the sun don't shine. ( laughter ) but as i suspected, folks, alternative energy come with risks. >> at first, ernie marshall was all for the new wind farm going up near his home >> and it sound like a great idea. >> but soon after the turbines started rolling, he said he started suffering a litany of health complaints. >> i've had problems with my heart. i have problems with my ears. it traumatizes your whole body. >> stephen: yes, living near a windmill can ruin your health. that's why everybody in the nighter land is always sparking up their medical marijuana. now, folks those who suffer from what's become known as wind turbine syndrome say it's caused by the noise, vibrations, and moving shadows of the turning blade. and i've heard the same complaint about the gillette fusion power phantom razor. a study by the university of sydney found 150 health problems attributed to wind turbines including migraine, sleep loss, stomach problems
hit were financials because of the tighter regulations, tougher to do business, but also energy, same thing, on the coal and the environmental side there. so i think those two were kind of what i will call a reset. >> would you buy in to the selloff or do you want to take to the sidelines. the market has done well under president obama. i realize it is probably the free money and the stimulus from the federal reserve that that has driven the market but the nasdaq is up 90%, the dow up 50%, s&p 500 up 60%. was this an over reaction and would you look for opportunities to get in? >> i think, i would say fundamentally we are looking for s&p earnings of $100 a share next year. that is somewhat lower than what total year 2012 will be. we're also below consensus, but even still, $100 a share should support 1400 in the s&p which is higher than it is right now. should support 1450, potentially even 1500. i would say we're in a range bond market in the u.s. and it's going to be subject to a lot of headlines we will read. >> what sectors do you think will do well under an obama presidency. what
. let's check out latest news in energy and metals and go to sharon epperson at the nimax. >> the markets are jittery here. we have wti oil prices below $86 an oil and brent crude jumping up toward the 110 level. bob outlined the concerns about going over the fiscal cliff and what that means for the u.s. economy and what ripple effects it will have globally. there's also of course concern about what's going to come of the eu finance ministers meeting over greece and that's going to be an impact on the markets and we have geopolitics and israel saying they won't take direct hits from syria. that is something that the market has been watching very closely as well. the big story that has long-term ramifications for the u.s. oil industry and for the global energy trade is definitely the report today from the international energy agency where they said that they believe that the u.s. will become the top oil producer in the world by 2020. overtaking saudi arabia. overtaking russia and the fact that u.s. will be self-sufficient by 2035. this is a huge sea change in the debate tha
right here in the usa. that's right, believe ii or not the international energy agency says the u.s. will become the world's top oil producer in five years. that would be amazing if it's true. what will it take to get there? i don't know. let's turn to oil guru stephen schork, founder and editor of the schork report. stephen, as always, welcome back to the show. >> great to be here, thank you. melissa: all this is predicated on tracking and shale. first of all do you think it is realistic? that is pretty quick time horizon? >> absolutely, melissa, and it is amazing when you make prices go high enough how much of a supply of given commodity there is out there. with all apologies to the bob dylan, the answer is not blowing in the wind. the answer is drilling beneath our feet. melissa: so let's do comparisons on a price basis because my thought on this we could outproduce saudi arabia at some price. saudi arabia the oil is sort of sitting right on top of the sand. we're talking about oil in the u.s. that is more expensive to get to. but at the same time we don't have to transport it
dollars more a year to california. half of that money is going in the first five years to renewable energy projects, energy efficiency projects at schools. going to create a lot of jobs. and its chairman who put $29 million into it is probably going to be a novembcandidate f governor. >> or cabinet. >> why proposition 38 went down? the other education -- >> well, i think part of it was the amount of money that the teacher's union sent against it. and the governor coming out, saying, look, we just have to get this done. but it went down by a greater margin than i thought. there were a lot of people who voted for both, sort of hinging their bet. and i think there was a lot on the ball lot for all voters and i thought to a large degree they seemed very thoughtful. >> and to paul's point, a lot of people would have had to pay under the munger legislation. >> everybody. >> where at some of the others, i'm not in that category. >> belva: turning back to the national scene, we're going to see some changes in the new administration in washington? >> well, there are some californians, we talked abo
budget. after the weekend, talks collapsed. and the annual world energy outlook report in an hour and plus analysis of where oil prices can be headed. and best buy gets set to join the tablet wars with it insignia flex. what can it offer to customers that the ipad, kindle 5 and surface can't. the first japanese government may be forcesed to lower its outlook for the economy, this after reporting an 8.9% fall in third quarter gdp. at this rate, already in recession. the government's attempts at a moderate recovery has been made more difficult by tensions with china. now pressure is even mounting from the boj, but analysts say the central bank likely to hold off until after the federal reserve is due to meet. joining us for more is global chief officer of global equities. and head of japanese research at jpmorgan securities. i suppose the question is whether this contraction here in the third quarter will be followed by another one in the fourth. >> it looks quite likely. you've got bad news on exports continuing and you've got on on top of that now a contraction in public spending
to have. that speaks to energy, certain types of medicine and technology, but beyond that, we're really pulling in our horns right now. charles: you would term these really, on, some sort of modern day version of widows and orphanses kind of fem nons. >> the gold mining, look to the picks and shovels, not to make a million. looking to the supplies for a million dollars. charles: in february, march of 2009, americans sold 50 billion dollars worth of equity mutual funds when they probably should have been buying 350 billion and a majority sold out because of president obama, in hindsight it was obviously an expensive mistake. do you think that knee jerk selling the market because the president has a second term could be the same kind of mistake. >> no question about it. the worst possible thing an investor can do. you need to be in the market for appreciation and income and need to use things like trailing stops, for example, that automatically make that decision for you, if you've got a market of millions of participants you're not smarter than that market. i'm not smarter than the marke
i think-- >> the energy and dynamic-- >> that's their tension. it's a dilemma. >> but if the energy and dynamism can move towards reform, great. i think there's a tension in the republican base-- you said they got a shock. but it's unclear whether the shock is i need to change or i was sent to stop this guy obama from raising taxes and doing terrible things to the country. that's unresolved. >> schieffer: let me ask you something, dee dee. there are going to have to be some changees, i would think, in the administration and in the democratic party. after all, the president has had four years to try to break this deadlock and he hasn't been able to do it yet. i'm not saying it's all his fault. isn't he going to have to give a little here? >> no question. and he said i'm willing to compromise, i'm willing to listen, and i'm willing to entertain new ideas. the truth, though, is the president has the upper hand right now. not only was he re-elected by a pretty convincing electorate. he also picked up-- we picked up seats in the house and senate. and with the fiscal-- and 60% of american
, because of the -- you know, tighter regulations, tougher to do business. but also energy. same thing on the coal and the environmental side there. so i think those two were kind of what i'll call a reset. >> so would you buy into this selloff, or do you want to take to the sidelines? i mean, the market -- let's face it, the market has done extremely well under president obama. realize it's also partly the free money and the stimulus from the federal reserve that has driven the market. but the nasdaq up nearly 90%, the dow up 50%, s&p 500 up 60%. so was this an overreaction, and would you look for opportunities to get in? >> well, you know, i think, you know, i would say fundamentally, we're looking for s&p earnings of about $100 a share next year. so that is somewhat lower than what year -- total year 2012 will be, we're also below consensus. but even still, $100 a share should support 1,400 in the s&p, which is higher than it is right now. should support 1450, potentially even 1500. so, you know, i would say we're an arranged bond market in the u.s., and really, it's going to be sub
cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. ♪... ♪... ♪... choose the perfect hotel >>> more heads are rolling at the bbc. the director general resigned over the weekend, and today the head of the news division has stepped aside at the bbc. this latest resignation came after a politician was falsely accused of a sex abuse scandal at the network. not the only skamdz. the former kids tv host who died last year has since been accused of being a pedophile. the network is said to be getting their reputation back. mark thompson used to run the bbc and now works for the "new york times". >> like many people i'm very saddened by repeat events at the bbc, but i believe the bbc is the world's greatest broadcaster and no doubt it will once again regain the public's trust both in the u.k. and around the world. it's a very important institution, a
is staying put. fred upton the chairman of the energy and commerce committee where a lot of health care and energy policy go through. the committee of jurisdiction there will be staying for another two years. and ways and -- any type of entitlement stuff. dave camp. he is not going anywhere either. where we are go to see significant committees where there will be turnover is the judiciary committee. he is term limited. he will make a bid for the science committee. he will find himself in competition. ralph hall, the chairman now is term limited. also the transportation and infrastructure committee. there are a few people who happen to have seniority but either have committee assignments or not looked upon as viable. we are passing the baton to a new generation. bill schuster is making a very strong play for the chairmanship of that. that will be just in time for congress to start to think about another reauthorization of the transportation programs, the highway bill, if you will. there is a short-term extension. they will need to revisit that in the 113th congress and representative sh
the country, around the corner. us bank. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. boproductivity up, costs down, thtime to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantas who would have thought? i did. we did, bob. we did. got it. >> live from america's news headquarters, i'm harris falkner. the scandal surrounding the head of the cia general david petraeus breaking wide open on this sunday. he quit suddenly on friday he said because of an extramarital affair and now we know that fbi agents were looking at e-mails on his computer as part of a wide investigation and they were tipp
in place pro-growth policies and energy and healthcare and the regulatory policy. then address the spending. the spending that has to be addressed is medicare, medicaid and snore we'll get to spend -- >> chris: we'll get to spending in a second. boehner seemed to be saying i am going to close loopholes and use the revenue. not just growth, but use the re-knew from closing the loopholes to cut the deficit. are you accepting that or not? >> i think that is the formul formula. that is the way we reach agreement. you can close the loophole -- >> chris: it's not the growth. taking the money, tax expenditures through the loopholes and giving, using it as a deficit savings. >> as long as you close the loopholes and limit the deduction, limit credits. formula for a solution. >> real solution. >> chris: senator corker, you have a draft plan you have been circulating to a number of members in the senate. is there a deal here? >> i think there is a deal. the ying and yang of this is we know there has to be revenues. look, i haven't met a wealthy republican or democrat in tennessee that is not willing
to find an alternative source of energy. >> five-hour energy drink. >> man, start stocking up. get some diet coke. whatever you have to do. hang in, folks. septic disasters are disgusting and costly, but avoidable. the rid-x septic subscriber program helps prevent backups by sending you monthly doses right to your door so you will never forget to maintain your system. sign up at rid-x.com. [ wife ] a beached whale! lawn clippings! a mattress. a sausage link. mermaid. honey!? driftwood. come on, you gotta help us out here a little. [ male announcer ] febreze eliminates odors and leaves carpets fresh. ♪ prove it. enough is enough. d-con baits are specially formulated to kill in one feeding. guaranteed. d-con. get out. ♪ let the sky fall ♪ it may crumble ♪ we will stand tall ♪ face it all together >> welcome back, everybody to "insomniac theater." number one at the box office this weekend, the latest james bond flick, "skyfall." >> that's right. no surprise to me. i was in the theater this weekend to see it. so was our digital news associate, jayce henderson who joins us right no
, ♪ ♪ so make them write a big check today. ♪ ♪ and if you're feeling a little slow, ♪ ♪ then 5-hour energy will help you go. ♪ ♪ so buy a bottle of pink lemonade and ♪ ♪ you can help fight breast cancer today. ♪ chips, chips! [ female announcer ] silence those tempting thoughts with new light & fit greek. its creamy thick texture helps satisfy you. and at 80 calories it's the lightest greek yogurt with fruit. new light & fit greek. be light and fit and satisfied. [ male announcer ] it's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends december 7th. so now's the time. visit medicare.gov or call 1-800-medicare. ♪ american soldier american like my brothers and my sisters i'm proud ♪ >>> let us remember all the nation's veterans today, past and present. that's for sure. we'll take a look at your morning road conditions. a wet commute aroun
in energy and healthcare and regulatory poll seep and then address the spending. the spending that has to be addressed is medicare, medicaid. >> boehner seemed to be saying i am going to close some of the loop hole he is and use some of the revenue from closing loopholes to cut the deficit. >> that's a way to reach the agreement. that's what many of us are saying. >> it's taking some of the money the tax expenditures through loopholes and using it as a deficit saving. >> you limit the deductions and credit and lower the limits and the rates. that's the solution. >>> you have a draft plan you have been serving to the members of the senate is there a deal here? >> the ying and yang there has to be revenues. i haven't met a wealthy republican or democrat in tennessee that is not willing to contribute more as long as they know we solved the problem. the ying of revenue i think we understand that's a pro growth way of putting that in place. what you have tied to that is true entitlement reform. people know we solve a problem. >> is there a basis of a deal here? no it's not raising the bush
by people from the utility industry, a lawyer from the cell phone industry, a finance your from the energy industry coming in by quote the editor of a little paper in california the only peter besides the l.a. times that's been tough on the utility industry whose says it doesn't stand for public utility commission because they are so unpopular he calls of the profit up keep commission. >> host: there are other examples of interesting to me but there's a section on the 401k and the retirement savings what do you find is there a lesson that we can do as individuals if everybody knew how to invest well then they would pay the wages and for all of my education and knowledge i don't know how to do that i just spend less than you make. the efficient way to take care of people's old wage there is not peacekeeping is through defined benefit pension plans and you hear the industry saying let's get rid of these they aren't predictable. that's nonsense you can buy the pension plan call-up any insurance plan and say i'm this age here is how much i have and tell them your gender and get a blood test an
, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. domestic, abundant, clean energy to power our lives... oh, let me guess --ou see this? more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the market, he goes with people he trusts, which
a clean energy economy. >>> the chp wants to know if you are too sleep foy drive. better keep our eyes open. because the chp is launching a week-long crackdown on croucy driving. the chp says drowsy driving is about as dangerous as driving drunk. >>> coming up on 7:24. hoping everyone is wide awake behind the wheel. how are things going in downtown san jose? >> okay. we've been looking at one of the slowest commutes on a regular monday. i want to show you 280, northbound right to downtown on the right. you can see traffic is just fine. just a lot of schools today are observing veterans day, even though veterans day was yesterday. but right now, it's having an effect on the commute. looking at the east bay, southbound 880, southbound 8 0 they are clearing a crash -- 880 they are clearing a crash. let's go to steve. >> thank you, sal. >>> a lot of 30s. let's get used to that. the afternoon highs will come up a little bit. at least through wednesday or thursday and then we'll see have to if we get clouds in here. really not going to do much, cold mornings. high clouds. but all in all a gr
an inspector. i can't get an inspector. we have big dreams. one is for a clean, domestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. shannon: the aftermath of superstorm sandy sparking serious health concerns. it's especially hard for folks dealing with disbitle who had a tough time making it through the storm and all that flooding. >> they carried me out. i lay there for six hours. the water went down and up so i could get out of the house. shannon: storm survivors are facing new medical worries. dr. manny alvarez is a member of the fox news medical a-team. you were out surveying the scene this weekend. what are your greatest worries? >> for a lot of folks in staten island and new jersey it seems like the storm happened yesterday. becaus
another reason, i believe in the power of markets. if you go back to the history of energy from day one today too, they are always running out of something. prices got high enough that we figured out a way to get more. i am very excited about it. i think it is great for the economy. it will be a boom for the next ten-25 years. lori: hasn't found a bottom, do you think? >> i think it depends on europe. that seems to be the mover of every headline we get out of there. we are not sure if we have to test the 70s first oracle backup. there is a lot of economic uncertainty right now. it is the weakest demand of the year. i think if we get some clarity on that, though bowles will be coming back and oil. melissa: thank you so much. lori: reminding us that we found some support levels. it looks like the markets are getting some contraction to the upside. the dow up 40 points. let's go back to nicole petallides to update us now on the drivers. nicole: we are seeing the markets take off. sessions highlight in this 1:00 p.m. hour. the market is really beginning to pick up some steam. all three of o
knowledge, and expertise in energy. in energy we have created 1 billion pounds for capture in storage, one of the key technologies of the future. we created the world's first green investment bank. we're pioneering a new incentive for heat systems in people's homes, and we are putting in place a robust financial framework to incentivize renewable electricity. as a result, more than 12 billion pounds has been committed to into renewable projects in the u.k. and the past 18 months alone with the potential to support around 20,000 new jobs. we've also created new incentives to squeeze more oil and gas out of the north sea, including from the marginal fields. when we see opportunity, we must go for it. look at the way we of got behind tech city right here in london. two years ago there were around 200 digital companies. today there are 1200. with major tech companies like amazon and facebook setting up developer centers, this is now becoming the fastest-growing technology cluster anywhere in the world. we will be publishing new strategies for aerospace and ameritech, alongside it clear, offsho
, afghanistan/pakistan and u.s. energy policy as the six top issues. so starting with that, looking at it strategically, do you feel that those are the core issues before president obama and this administration and our country going into 2013? um, if not, what would you change, what would you add? >> i -- when i was informed by lori murray about the outcome of the process by which the world affairs councils went through and came up with those six issues, i thought you had it exactly right. i think those are the big issues, and congratulations to you. i think you have them just right. i think there is an overarching issue on top of all of them that in some sense effects and enables all of them x that is if you look at at the national security challenges and the foreign policy challenges we face, i say that the number one challenge is getting our fiscal house in order. getting a handle on the debt, getting a handle on the deficit which are critical in order to get the economy growing again and people back to work. and i think that is the over -- it's certainly the number one domestic
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all of us giving to some people. a few benefit like clean energy then you might get the money and some of the with the defense contractor in favor of mitt romney that is good for your business but bad for the economy in general to tax some people. romney had a good line you n't just pick winners and losers but you pick the losers. john: they could the random selection people look at politician as the person to solv every problem? president obama was the magic president. these people were waiting three hours. he is magic. >> they've really feel he has the intrinsic quality now they he has been reelected to change people's lives like he has only been warming up. for what? it is terrifying. john: people felt this way about romney. >> but obama is a classic example of the colt of the presidency the idea tht any politician can fix all the problems is not start with the obama but is the attitude we should get rid of racism. he should stop the rise of the oceans and get everybody house. i saw a teenager said he should give everybody a house. kids say that is understandable. but adults are sup
have economic growth many of which are put in by obama for the solyndra green-type energy programs. let's bring the rates down. boehner was clear he wanted increase revenues it is not a tax increase to put more americans at work. if our recovery was growing the rate reagans did more americans would be at work. in terms of raising revenue which boehner grew about. if you grew the economy at reagan levels instead of two percent and obama and french levels, just growing faster and do that for a decade, the federal government gets trillions in taxes. we could undo the damage by having higher growth. >> gretchen: that's the difference in ideology. raise it to 3#.9 percent x. replace the alternative minimum tax with the buffet and raise the state tax and long-term capitol gains from 15-20. where do you think that those four points will go in negotiations with the republicans? >> mr. boehner said one thing he's not willing to give up on is maintaining the 35 percent top rate. obama wants 39.6 percent. it is rather significant increase. the obama care tax increase. he takes the tax rate on half
obama expend kind of the emotional energy to sit down with all these republicans, which i think is something he hates to do, just visceraly, and work it out, roll up their sleeves and say, let's do this, let's trade this for that. you need the joe biden -- the old tip o'neil-reagan world, one for you, one for me. chris: how about the old bill clinton thick of inviting everybody down to arkansas? i think they can do something really good by cutting corporate rates. that's something obama's talked about doing as a give me to the other side and then fight for the higher rates for the top people. i think he can put the deal down so it's probusiness. the news organizations conducted exit polls in presinlts around the country and one finding goes a long way to explaining mitt romney's big challenge in this race. asked which man was more in touch with you, 53% of voters on tuesday said barack obama. and 43% said mitt romney. that 10-point deficit proved fatal to romney. romney never recovered from missteps that labeled him too rich to understand the average american. there was the $10,
will account for pollutions but they can sell them. they will help drive california towards a clean energy campaign. >>> and they are cracking down on drivers who are sleepy behind the wheel. it is almost as dangerous as driving drunk and after 17 hours of driving, it is as dangerous as those who have a .7 alcohol level. drowsy driving deaths were very high in 2010. >> i get on the road at 3:00 a.m., i am drowsy, i'm sorry. >> i am going to have a cup of coffee, let's take a look at what we have, traffic is moving along pretty well and as we have been mentioning, northbound 280, getting to highway 17 looks good, we may have some schools out today. southbound 608 to sunole -- 680 looks good as you get to the bottom of the hill. >>> 43 in ocean beach, for some it is not bad and for others it is cold out there. overall it will be mostly sunny partly sunny to the north, mainly 60s, pam. >> all right, steve, coupling up next, -- coming up next, the bay area connection which was once at the supreme court. >>> coming up why the president thinks he should support higher taxes. >>> and they are pu
and be there at all times, and i think that it can be done, but frankly, we need to change the scope of our energies and the scope of our commitments. >> you see, this is not an attempt by the republicans to do something and fail. it is the lack of the attempt of the republicans to do anything at all. the first state race, state race i ever worked on was the united states senate in seat in 1996. and i asked, you know, very naively, why don't we go to black churches? well, they will never vote for us. why don't we retreat to students and young people. they don't vote. well, here we are in 2012 and that is a completely different story and we have to make the attempt. >> but what i heard al say, and what president obama won because he promised free things and i don't want to misquote you there, but i'm not sure if it is promise of free things, because when i hear that people say that they voted for president obama because they wanted things. why else do you vote for a candidate if you don't want something from the candidate? >> let me tell you something that obama won this election and everybody back u
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